Wisconsin Lawsuit Could Potentially Spawn Investigations of John Lennon Art Work and Collectible Sales

0712lawlen.jpg

This weekend saw the start of an interesting, possibly wide spread legal movement coming out of an unlikely place, the small city of Waukesha, Wisconsin. As the Journal Sentinel reports, it’s there that David Peterson lives, a collector who has just filed a lawsuit against a collectibles dealer in Hawaii for selling him inauthentic work by John Lennon that had been presented as completely authentic originals. Peterson has spent close to $200,000 on art, supposedly originally created by the musician, as well as miscellaneous memorabilia, only to recently start discovering that many of the pieces the dealer sold him were either reproductions or outright fakes. While one unfortunately burnt collector is sad news, the paper reports that his lawsuit might lead to wider repercussions within the Lennon (and possibly Beatles) sales market. Peterson says that the FBI is now involved and the investigations might go beyond just this one suspect dealer and branch out into the whole cottage industry. Or as Peterson says, it might create “a tsunami in the collecting world.” Just the hopeful anger of a slighted collector or hint of something much larger to come? Will be interesting to see how it pans out.